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Global beef prices are expected to rise to record highs in 2013, according to Rabobank, a Dutch financial firm with a focus on agriculture. Their analysts point to the "lethargic world economy," and a beef supply that has largely remained flat for six years straight.

In the United States alone, beef production is expected to decline significantly in 2013, whether or not droughts in the Midwest continue.

Even if more rain restores pastures next year, beef production could be down as much as 9%, said David Nelson, a Rabobank analyst. "This is because ranchers would then hold back young females (heifers) for breeding to expand, instead of sending them to the market," he said.

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Beef muscle meat can be cut into steak, roasts or short ribs. Some cuts are processed (corned beef or beef jerky), and trimmings, usually mixed with meat from older, leaner cattle, are ground, minced or used in sausages. The blood is used in some varieties of blood sausage. ",`

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I don't mean to horn in on this story, but I just think that ranchers are trying to milk this for all they can, which is utterly absurd. If prices go high enough, people will resort to stealing...you know, they will be forced to purloin their sirloin.